Chief executive officer
This query is : Resolved
19 February 2016
As per definition of CEO in clause 18 of Section 2 of Companies Act 2013, means an officer of the company, who has been designated as such by it.
Does this means that CEO need not be director of the company and would not be governed by limits on managerial remuneration.
And can any person be designated as CEO who is entrusted with affair's of the company.
Does this means that CEO need not be director of the company and would not be governed by limits on managerial remuneration.
And can any person be designated as CEO who is entrusted with affair's of the company.
20 February 2016
You are correct. CEO need not be a director of the Company. Accordingly, Section 197 is not applicable to CEO (Managerial remuneration.
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